The trend toward global interconnectedness has never been stronger, with innovation and technology helping to make the impossible now possible. The rewards are vast in terms of reduced cost, increased opportunity and greater inclusion, but there is an obstacle that is slowing progress: existing proprietary banking infrastructure. Fortunately, that’s not the end of the story, as the way is being paved for full worldwide banking integration.
Around the world, including in Australia, Internet banking has become the new normal. Although most Australians bank online, a large percentage have yet to jump on board. How can banks maximize the advantages of Internet banking while minimizing the costs, and ensure their services are equally rewarding to all customers?